Bank Fraud Charges Statute of Limitations

Fraud on a financial institution can involve checks, wire transfers, or other means of falsely obtaining funds.

Knowing which statute of limitations applies is one of the most fundamental aspects of criminal prosecution. For federal, non-capital offenses, this has largely been streamlined. Certain offenses, however, are still outside the mainstream, general rules. Bank fraud is such an offense.

Bank Fraud Defined

Of all the federal fraud charges, bank fraud is perhaps the broadest. Although many people think of bank fraud as fraud against a bank or other financial institution, this is only one type of bank fraud. In fact, any fraud that allows the perpetrator to gain access to funds held by a financial institution can be bank fraud under federal law, as defined by Section 1344 of the United States Code, Title 18.

Statute of Limitations

The federal crime of bank fraud has been excepted from the general federal statute of limitations. Instead, bank fraud is subject to a 10-year statute of limitations under Section 3293 of the United States Code, Title 18.

History

Prior to 1989, the statute of limitations for bank fraud was five years. In 1989, however, the federal government undertook an overhaul of federal criminal law, which included extending the statute of limitations for bank fraud from five to 10 years.

References

• Berg & Androphy: Keeping Up With Changes in Bank Fraud Statutes
• Cornell Law School Legal Information Institute: 18 U.S.C. § 3293
• Cornell Law School Legal Information Institute: 18 U.S.C. § 1344